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Leading India political party will ban foreign supermarket investment


Mumbai, India – Leading Indian political party Bharatiya Janata Party (BJP) said in its official election manifesto that it will ban all foreign direct investment into the Indian supermarket sector if it wins a majority stake in the upcoming parliamentary election. BJP is widely expected to take majority control of parliament and the prime minister seat in India’s May 2014 elections.

However, BJP will most likely need to form a coalition government, which could require the party to soften or change its stance against foreign direct investment in domestic supermarkets, which is supported by small local grocery retailers. BJP has said it will allow foreign direct investment in other business sectors. Media reports indicate Wal-Mart temporarily halted its India expansion plans in February 2014, presumably to see how the parliamentary elections turn out.

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